Partnership act
Veeresh Naik
(Querist) 09 June 2013
This query is : Resolved
what is remedy for a partner, if the acting partner is not giving accounts? pl. note that partnership firm is engaged in constructing a building which still in progress therefore partnership firm can not be dissolved at this moment.
prabhakar singh
(Expert) 09 June 2013
A notice of accounting followed by suit of accounting.
ajay sethi
(Expert) 09 June 2013
you are apartner of firm . you have full rights to ask for accounts . if acting partner refuses to do so send a letter in writing asking for inspection of accounts .
Veeresh Naik
(Querist) 09 June 2013
dear sir, thanks, can I file simplicitor suit of accounts of a existing firm?
Veeresh Naik
(Querist) 09 June 2013
sir, only because the plaints which I saw contains prayer of dissolution therefore I thought I can demand accounts only with the prayer of dissolution of the firm, thanks a lot sir.
prabhakar singh
(Expert) 09 June 2013
Section 9 and 10 of the Partnership Act lay down the basic duties of every partner and the said duties are not subject to any contract on the contrary. Therefore, partners are bound to carry on the business of the firm to the greatest common advantage, to be just and faithful to each other and render accounts and full information of all things affecting the firm to any partner or his legal representative and every partner is bound to indemnify the firm for any loss caused to it by fraud in the conduct of the business of the firm.
R.K Nanda
(Expert) 09 June 2013
send legal notice to give details of a/c.
Rajendra K Goyal
(Expert) 09 June 2013
Agree with the experts. However, if the differences are there better to part with and ongoing work is valued mutually or let the law play its role. With differences when accounts are not being disclosed, the partnership will continue is under doubt.
